Private retirement plans beat Social Security and other misguided government schemes

Posted: Sep. 27, 2011 11:47 am Updated: Oct. 15, 2014 11:15 am

To The Herald-Whig:

I have two retirement plans. I am very proud of one as it has grown nicely, and I can spend any amount I want at any time I want. It was voluntary, and it has my name on an exact dollar amount. I own it so I can will any remainder to my heirs. Most importantly, the money held in trust for me did not disappear.

My second plan is a mandatory Ponzi scheme called Social Security. It cannot boast of even one of the above good characteristics of my private plan.

Galveston, Texas, opted out of Social Security decades ago and their employees benefited immensely. For my grandkids' sake, I hope all workers eventually get an option to drop Social Security and save that money privately. Young employees (and their parents) should demand that option from their politicians before a sizable part of their lifetime earnings are confiscated.

Free people should not be forced into government retirement and health care schemes. They are designed to control you and get your votes, while falsely claiming to help you. Freedom demands we make socialism voluntary, or better yet make it illegal.


Gary Shaffer